Murrey Math Lines 18.08.2015 (EUR/USD, GBP/JPY)
18.08.2015
Analysis for August 18th, 2015
EUR USD, “Euro vs US Dollar”
After rebounding from the 7/8 level several times, Eurodollar has broken the H4 Super Trend and stayed below the 6/8 level, which means it may continue moving downwards. The closest target is at the 4/8 level: if the market breaks this level, it may continue falling much lower.
The lines at the H4 and H1 charts are completely the same. Super Trends have formed “bearish cross”. The stop loss on my sell order opened earlier is in breakeven. In the future, I’m planning to increase my position.
GBP JPY, “Great Britain Pound vs Japanese Yen”
At the H4 chart, the pair is moving in the middle, below the H4 Super Trend. In the future, the pair may fall towards the daily Super Trend: if the price breaks it, the market may continue falling faster.
As we can see at the H1 chart, Super Trends have formed “bearish cross”. Possibly, the price may leave “overbought zone” during the day. The closest target is at the 6/8 level: if the pair breaks it, the market will continue falling.
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